BOX (NYSE:BOX) Reaches New 12-Month High – What’s Next?

Box, Inc. (NYSE:BOX)’s stock price hit a new 52-week high during trading on Wednesday . The stock traded as high as $35.03 and last traded at $34.95, with a volume of 381013 shares. The stock had previously closed at $34.24.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on BOX shares. UBS Group boosted their price target on shares of BOX from $31.00 to $34.00 and gave the stock a “buy” rating in a research report on Wednesday, August 28th. Royal Bank of Canada reaffirmed an “underperform” rating and issued a $21.00 target price on shares of BOX in a report on Wednesday, August 28th. StockNews.com raised shares of BOX from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 15th. Citigroup upped their target price on shares of BOX from $32.00 to $34.00 and gave the company a “buy” rating in a report on Wednesday, August 28th. Finally, Morgan Stanley upped their price target on shares of BOX from $30.00 to $33.00 and gave the company an “equal weight” rating in a research note on Thursday, September 5th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, BOX presently has a consensus rating of “Moderate Buy” and an average price target of $31.22.

BOX Stock Performance

The stock’s fifty day moving average price is $32.62 and its two-hundred day moving average price is $29.00. The company has a market cap of $4.97 billion, a P/E ratio of 44.32 and a beta of 0.85.

BOX (NYSE:BOX) last issued its quarterly earnings data on Tuesday, August 27th. The software maker reported $0.44 EPS for the quarter, beating the consensus estimate of $0.40 by $0.04. The business had revenue of $270.04 million during the quarter, compared to the consensus estimate of $269.52 million. BOX had a net margin of 13.94% and a negative return on equity of 14.41%. The firm’s revenue was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.01 EPS. On average, equities research analysts forecast that Box, Inc. will post 0.23 EPS for the current year.

Insider Activity at BOX

In related news, CEO Aaron Levie sold 10,000 shares of the stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $32.92, for a total value of $329,200.00. Following the completion of the transaction, the chief executive officer now owns 3,009,155 shares of the company’s stock, valued at $99,061,382.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CFO Dylan C. Smith sold 13,000 shares of the business’s stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $32.52, for a total value of $422,760.00. Following the transaction, the chief financial officer now directly owns 1,474,509 shares of the company’s stock, valued at $47,951,032.68. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Aaron Levie sold 10,000 shares of the business’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $32.92, for a total value of $329,200.00. Following the completion of the transaction, the chief executive officer now directly owns 3,009,155 shares in the company, valued at $99,061,382.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 43,000 shares of company stock valued at $1,408,290 in the last quarter. Insiders own 4.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in shares of BOX by 14.9% in the first quarter. Vanguard Group Inc. now owns 17,313,882 shares of the software maker’s stock worth $490,329,000 after purchasing an additional 2,249,082 shares during the last quarter. Congress Asset Management Co. purchased a new stake in shares of BOX in the third quarter worth approximately $46,236,000. Earnest Partners LLC raised its stake in shares of BOX by 10.5% in the first quarter. Earnest Partners LLC now owns 7,340,474 shares of the software maker’s stock worth $207,882,000 after purchasing an additional 699,882 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its stake in shares of BOX by 19.4% in the first quarter. Jacobs Levy Equity Management Inc. now owns 2,374,580 shares of the software maker’s stock worth $67,248,000 after purchasing an additional 386,149 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of BOX by 9.8% in the second quarter. Dimensional Fund Advisors LP now owns 2,564,668 shares of the software maker’s stock worth $67,809,000 after purchasing an additional 229,314 shares during the last quarter. 86.74% of the stock is owned by institutional investors and hedge funds.

BOX Company Profile

Box, Inc provides a cloud content management platform that enables organizations of various sizes to manage and share their content from anywhere on any device. The company's Software-as-a-Service platform enables users to work with their content as they need from secure external collaboration and sharing, workspaces and portals, e-signature processes, and content workflows improving employee productivity and accelerating business processes.